According to a recent survey by Coldwell Banker Real Estate LLC, and the Coldwell Banker Global Luxury program, affluent international buyers are dreaming big, spurned by location/lifestyle preferences, an overall positive outlook on the U.S. luxury real estate market, and more.
According to the survey, a significant number of respondents say they are optimistic about the state of the U.S. real estate market; 80% of luxury consumers believe purchasing real estate in the United States is a safe investment, and 76% rate the current market conditions to purchase a home as “excellent and/or good.”
The survey conducted in partnership with Censuswide highlights the consumer sentiments of over 1,200 high-net-worth consumers from 12 countries. The findings serve to unpack the dreams, desires, and attitudes of international luxury home buyers, offering insight into what’s driving their interest in U.S. real estate, where they’re dreaming of moving to, and the factors impacting those relocation purchases.
International wealthy consumers seek to diversify their real estate portfolios, build generational wealth, and make opportunistic buys in luxury markets. In fact, 84% say they already own residential real estate outside of their home country.
The survey also reveals that virtually all (97%) respondents from Mexico consider purchasing real estate in the United States as a safe investment, ranking them the most likely country surveyed to do so. Participants from Spain and the United Arab Emirates did not fall far behind with 92% saying that U.S. real estate is a safe investment.
Consumer motives and preferences are not universal when it comes to international buyers looking for their dream home in the U.S. The survey indicates that some of the leading motivations to purchase property in America include:
- Frequent work/business trips to United States cities
- A movie or television series based in the United States
- A recent vacation to a United States city
- Investment opportunity
- Social media
- Dual citizenship / golden passport
The below amenities are rated as the top five most important for international respondents based on their desires when selecting a dream home purchase abroad:
- Latest smart home technology
- Eco-friendly and sustainable design features
- State-of-the-art security system
- Home with breathtaking views
“The dream is alive and well for the international consumer; our international survey spotlights what’s attracting luxury international buyers to the U.S. real estate market,” stated Liz Gehringer, president of Coldwell Banker Affiliate Business and Chief Operating Officer, Coldwell Banker Real Estate LL. “With 88% of respondents stating that they’re likely to use a real estate agent, it bodes well for Coldwell Banker Global Luxury Property Specialists who have the knowledge and network support to provide guidance to these luxury international buyers as they seek their American dream home.”
Click here to read the full survey from Coldwell Banker.